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Grain stock at 64 million tonnes, big hike in MSP unlikely

posted Sep 30, 2011, 11:11 PM by Puneet Goyal   [ updated Oct 4, 2011, 10:41 PM ]
1 OCT, 2011, 04.06AM IST, ET BUREAU
NEW DELHI: India's foodgrain stocks with government procurement agencies stood at 64 million tonnes as of July 1, indicating that any hike in theminimum support price for the winter crop is unlikely to be substantial. The stocks comprised 26.85 MT of rice and 37.14 MT of wheat, an official statement here said.

The government rules stipulate that Food Corporation of India (FCI), the central agency for grain procurement and distribution, should have a buffer stock of 21.2 MT of wheat and rice, including 5 MT of strategic reserves, as of October 1, each year.

FCI procured 31.60 MT of rice in the 2010-11 kharif marketing season (October-September) till July 1, as against 29.74 MT a year ago. Wheat procurement for the rabi marketing season (April-March) 2011-12 was 27.83 MT against 22.47 MT in the last season.

At 241.56 MT, the country registered a record grain output in the 2010-11 crop year (July-June). Grain output for 2011-12 crop year is pegged at 245 MT. The off-take of rice under all government schemes, during June 2011, has been 2.81 mt.

This comprised 1.9 mt under targeted public distribution system and 9.06 lakh tonnes under other schemes. The total wheat offtake has been 2 MT-1.47 MT under TPDS and 5.85 lakh tonnes under other schemes.